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December 19, 2013, 03:07:45 AM |
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FileCoin is an idea for distributed paid file storage
it consists of a block chain and a distributed file storage.
the filecoin block chain is mined using merge mining, each coin has two states one where its blank and one where it has a hash attached.
when you want to store a file in the net:
1. hash the file the same way bittorrent hashes a file (merkle tree)
2. send x amount of coins to an address (same as bitcoin) where x is the file size and upload the file to the distributed file cloud. This file will stay in the cloud as long as there is an amount of unspent coins equal to the filesize with that files hash on it.
when you want to redeem that file you trade the coins with the hash with the distributed filestore:
1. request file from distributed cloud
2. once you find an entity with the file responding to the hash, connect to them
3. they send you the file in pieces each encrypted with a secret
4. you receive the hash of this secret and create a transaction to them with a script that requires the secret that belongs to that hash to be released
5. they redeem the coins then you use the secret used to redeem the coins to decrypt the piece
this system can be used:
1. to send messages as well as files to each other by sending and encrypted files to each other.
2. can be used as backup by sending the file to yourself.
3. can used a sorta twitter replacement by sending a non-encrypted file to yourself then people who are subscribe to this address can see a transaction go to it with hash y they can create a coin with hash y then redeem their coin for that file without destroying the file from the distributed net because your original transaction still exists.
4. have a chan by having an address that anyone can send file to but no one could own because the address is imposible to own eg THISISACHAN
5. have a moderated mail list by having address controlled by someone where people send unencrypted messages then if the moderator doesnt like a particular post they can remove them by redeeming the coins.
this system could also have varying other uses that i haven't thought up yet.
i’m beginning to write up a first draft white paper, and would like some feedback on this to help with the construction of the white paper.
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